J 
3.46
-4.95%
Close of 9 Nov 2026, in HKD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥8.10bn
FY2021FY2025
Net income
CN¥808.5m
FY2021FY2025
Free cash flow
−CN¥1.16bn
FY2021FY2025
Shareholders' equity
CN¥8.09bn
FY2021FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.10bn | CN¥4.36bn | CN¥3.53bn | CN¥2.79bn | CN¥1.27bn |
| Gross profit | CN¥1.49bn | CN¥635.5m | CN¥177.0m | −CN¥246.5m | CN¥183.3m |
| Research and development | CN¥520.3m | CN¥472.2m | CN¥360.1m | CN¥279.6m | CN¥187.7m |
| Operating income | CN¥377.2m | −CN¥77.2m | −CN¥429.5m | −CN¥1.44bn | −CN¥282.2m |
| Net income | CN¥808.5m | CN¥77.3m | −CN¥500.9m | −CN¥1.46bn | −CN¥341.6m |
| Diluted earnings per share | 0.32 | 0.03 | -0.20 | -0.57 | -0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Total assets | CN¥21.16bn | CN¥15.59bn | CN¥12.00bn | CN¥8.87bn | CN¥4.94bn |
| Cash and short-term investments | CN¥4.40bn | CN¥2.30bn | CN¥1.73bn | CN¥1.78bn | — |
| Total liabilities | CN¥13.06bn | CN¥9.70bn | CN¥7.97bn | CN¥6.77bn | CN¥3.26bn |
| Debt | CN¥3.95bn | CN¥3.66bn | CN¥3.15bn | CN¥2.63bn | — |
| Shareholders' equity | CN¥8.09bn | CN¥5.90bn | CN¥4.03bn | CN¥2.10bn | CN¥1.68bn |
| Shares outstanding | 2,554m | 2,509m | 2,554m | 2,554m | 2,554m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Cash from operations | CN¥1.44bn | −CN¥361.1m | CN¥241.4m | CN¥1.15bn | −CN¥140.5m |
| Capital spending | −CN¥2.60bn | −CN¥625.1m | −CN¥690.9m | −CN¥2.30bn | −CN¥761.4m |
| Free cash flow | −CN¥1.16bn | −CN¥986.3m | −CN¥449.5m | −CN¥1.15bn | −CN¥901.8m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | |
|---|---|---|---|---|
| Revenue | CN¥4.93bn | CN¥3.17bn | CN¥3.29bn | CN¥1.84bn |
| Gross profit | CN¥922.7m | CN¥568.7m | CN¥565.3m | CN¥183.1m |
| Operating income | CN¥255.7m | CN¥121.5m | CN¥115.6m | −CN¥206.5m |
| Net income | CN¥588.1m | CN¥220.4m | CN¥221.0m | −CN¥130.0m |
| Diluted earnings per share | 0.23 | 0.09 | 0.09 | -0.05 |
| Cash from operations | — | −CN¥125.0m | −CN¥361.0m | −CN¥305.0m |
| Capital spending | — | −CN¥1.60bn | −CN¥625.0m | −CN¥279.0m |
| Free cash flow | — | −CN¥1.72bn | −CN¥986.0m | −CN¥584.0m |
| Total assets | CN¥21.16bn | CN¥17.25bn | CN¥15.59bn | CN¥14.77bn |
| Cash and short-term investments | CN¥4.40bn | CN¥2.65bn | — | — |
| Debt | CN¥3.95bn | CN¥3.43bn | CN¥2.77bn | CN¥3.12bn |
| Shareholders' equity | CN¥8.09bn | CN¥7.04bn | CN¥5.90bn | CN¥5.68bn |
Financial ratios
Data as of 27 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Gross margin | 18.4% | 14.6% | 15.0% | -8.8% | 14.4% |
| Operating margin | — | 3.4% | -13.6% | -52.2% | -23.3% |
| Net margin | 10.0% | 1.8% | -14.2% | -52.3% | -26.8% |
| Return on equity | 10.0% | 1.5% | -12.4% | -69.6% | -20.3% |
| Return on assets | 3.8% | 0.6% | -4.2% | -16.5% | -6.9% |
| Free cash flow yield | 13.2% | -3.4% | — | — | — |
| Revenue growth | 57.9% | 23.3% | 26.5% | 119.5% | — |
| Earnings growth | 788.4% | -115.4% | -65.7% | 327.6% | — |
| Current ratio | 1.03x | 0.88x | 0.71x | 0.88x | 0.87x |
| Debt to equity | 0.47x | 0.60x | 0.74x | 1.17x | 0.00x |
| Equity ratio | 38.2% | 37.8% | 33.6% | 23.7% | 34.1% |
| Interest coverage | — | 4.51x | -14.17x | -50.70x | -4.98x |
| R&D as a share of sales | 6.4% | 10.8% | 10.2% | 10.0% | 14.7% |
| Buybacks as a share of market value | -1.8% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 41.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.1% | 11.0% | — | — |
Valuation history
At each fiscal year end
| FY2025 | |
|---|---|
| Price to earnings | 23.2 |
| Price to sales | 2.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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